The Columbus City Council gave final approval to an increase in the Cumulative Capital Fund Rate. Jamie Brinegar, the city’s director of finance, explained that the increase is being recommended by the state’s Department of Local Government Finance. The increase would see the rate increase from .0316 cents per 100-dollars of assessed value to five-cents, beginning next year.
Brinegar talked about how the increase could affect home owners.
Brinegar says that additional money brought in from this rate increase would be earmarked for public safety.
A few residents spoke out against the increase, citing concerns that it would result in a tax increase for those who could least afford it. Brinegar again stressed that this fund rate is only one of seven factors that figure into the city’s overall tax rate. As during the first reading of the ordinance, he pledged to try to make adjustments to the other six to negate any potential increase. Brinegar pointed to the fact that the city’s tax-rate fell in the first year of the current administration.
Brinegar went on to say that this adjustment is being made simply to have a steady, adequate stream for finances dedicated to public safety. Councilman Dascal Bunch echoed Brinegar’s sentiment, saying that not enough has been done in previous years to “shore-up” the city’s police and fire departments. Bunch says the council now has to “play catch-up” to get both departments to where they need to be to adequately provide service for city residents.
The council approved the ordinance on final reading on a vote of 5-2. Frank Miller and Laurie Booher voted against it.